Developments in the mortgage industry mean that later life mortgages such as equity release are becoming more and more popular.
We provide advice on the most suitable for your requirements, whether this is fixed, variable, capped or discounted. Other features such as offset accounts will also be considered.
Howard Wright LTD will be remunerated from the mortgage provider which is usually 0.3% of the loan amount. For example, a Mortgage of £150,000 would result in a fee of £450 from the lender. The costs will be confirmed to you before any business is transacted.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Equity release is a product which allows individuals to unlock some of the equity within their property, usually to assist with covering expenditure shortfalls in retirement.
Usually no monthly payments are required, though interest will increase the outstanding debt each year. Both retirement interest-only and equity release mortgages are usually repaid when you sell your property, move into long term care or pass away.
We have advisers who are fully qualified to help you in deciding whether these mortgages are appropriate for you and if so, we have the sourcing systems in place to recommend the most suitable product.
Howard Wright LTD charge a fixed fee of £3,000 for Equity Release advice.
This is a lifetime mortgage (home reversion scheme). To understand the features and risks, please ask us for a personalised illustration.